Almost as important as the content of the following statement is the speaker’s credentials and the year in which he spoke: “The sentiment for homeownership is embedded in the American heart. … It makes for happier married life. It makes for better children. …”Those were the sentiments of President Herbert Hoover in 1931, during the Great Depression.
Well, we’re not so convinced that owning a home will improve your marriage or make your kids behave, but Hoover was right about the way Americans value homeownership. And the literal meaning of “value” should not be taken for granted. Here in Clark County, folks want to make money off their homes, or at least not lose money.
Which brings us to good news about homeownership. According to Portland-based RMLS, the median sales price (half sold for more, half for less) for Clark County homes sold in January was $210,000. More meaningful, that’s a 26 percent increase from $166,000 in January 2012.
We caution against jumping to conclusions. Suppress any delusions about a land-baron bonanza. Don’t rush out and stick a “For Sale” sign in your yard just yet. Consult with experts before making big decisions. But the data provide another indication that Clark County is in economic recovery, albeit agonizingly slow, but it beats the heck out of bumping along the bottom.